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Business News

Location American Business News for 6 August 2018

46-year-old CEO bets $44.2 billion on 1 stock

USA Today - 6 Aug 2018 17:00
One CEO is putting over $44 billion on the table to take over the rest of the market, and he isn’t stopping any time soon.        
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Goodbye Netflix: this could be potentially 23X bigger While Netflix continues to grow and expand, we don't think it is the future of entertainment.        
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Wells Fargo sets aside $8M to cover loan-mod mistakes

American Banker - 7 Aug 2018 01:08
Wells Fargo estimates that in 400 instances, borrowers later went through foreclosure who were improperly denied or not offered a mortgage modification.
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Wells Fargo admits glitch led to hundreds of home foreclosures Sorry we helped you lose your home -- here's $20,000. Wells Fargo has admitted a "calculation error" may have led to as many as 400 struggling homeowners needlessly losing their homes to foreclosure. The mistake in a mor...
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Treasury urges mortgage sector to embrace digital tech

American Banker - 6 Aug 2018 19:22
The administration's recent report on fintech innovation discussed ways to adopt electronic promissory notes -- or eNotes -- and automated appraisals in federal mortgage programs.
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The eight best stock-market indicators are all flashing warning lights -- some yellow, others a shade or two closer to red -- and the takeaway is that returns are looking pretty grim over the next decade, according to Ma...
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Oil prices edged up on Monday as Saudi crude production took a surprising dip in July and American shale drilling seemed to plateau.
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Learning Where to Draw the Line: How Agencies Can Deal With Toxic Clients Last October, a pizza chain with a familiar face hired a new chief marketer and a red-hot, digital-first agency to shake up its brand after several disappointing quarters and PR snafus. It all seemed so promising. But th...
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Facebook Inc has asked large U.S. banks to share detailed financial information about their customers, as part of an effort to offer new services to users, The Wall Street Journal reported on Monday, citing people famili...
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Berkshire Hathaway profit surges as economy gives Buffett a boost Dennis Van Tine/AP Berkshire Hathaway reported a 67% jump in second-quarter profit, boosted by a growing economy. Underwriting profit at the Geico auto insurance unit more than quintupled. Berkshire ended June with $111....
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Business confidence falls amid Brexit uncertainty - surveys One of two polls finds 55% of UK board members predict business decline in next year Confidence among British business leaders has declined significantly and remains low, according to two reports that suggest the lack of...
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Bitcoin Investor Relief As Korean Crypto Exchange Cleared -- But Bears Remain This week's good news for bitcoin hasn't been enough to chase away the bears...
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EXCLUSIVE: Israeli startup Dia Imaging Analysis has raised $5 million for its machine learning-powered diagnostic technology.
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Six months after the Federal Reserve put Wells Fargo on a strict diet -- no more growth until it cleans up its act -- shareholders are finding it's not so bad.
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Are Donald Trump's policies hurting long-term US growth? Its presidents have more influence over long-term trends than short-term fluctuations President Donald Trump regularly thumps his chest and claims credit for each new uptick of the fast-growing US economy. But when it co...
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20 crazy things people have tried to smuggle past the TSA at airports AP The TSAor US Transportation Security Administration maintains a blog showcasing the most ridiculous items they've confiscated. These items include throwing stars, cans of propane, a series of loaded guns, narcotics, a...
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Ovid Therapeutics shares fall 28% as investors question new drug data (OVID) Markets Insider New York-based biotech company Ovid Therapeutics announced on Monday positive phase 2 trial results for its treatment for a rare disease called Angelman Syndrome. Its stock, however, was down 28% followin...
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Facebook climbs after reportedly asking banks for data to help build out financial products (FB) Marcio Jose Sanchez/AP Facebook has reportedly asked large banks for customer data to offer more financial services, The Wall Street Journal reported Monday. Shares of Facebook spiked more than 2%. Facebook's request cou...
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A woman claims she underwent an emergency C-section without anesthesia ARZTSAMUI/Shutterstock California resident Delphina Mota is alleging in a lawsuit that she endured a C-section without anesthesia. The lawsuit says an emergency C-section was ordered after the fetal heartbeat became unde...
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Britain's economy has defied gloomy Brexit predictions, Moody's says Moody's Moody's says the impact of Brexit on UK gross domestic product is "more benign than the pre-referendum forecasts." The credit ratings agency's chart shows actual GDP vs pre-referendum predictions. Doomsday hasn't...
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Wall Street Flat on Trade Worries, Mixed Results

The New York Times - 6 Aug 2018 18:45
U.S. stock indexes were little changed on Monday as investors weighed an escalating trade dispute between the United States and China, and a mixed bag of corporate results.
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U.S. stock indexes were little changed on Monday as investors weighed an escalating trade dispute between the United States and China, and a mixed bag of corporate results.
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